Final Results

Keydata Income VCT 1 KEYDATA INCOME VCT 1 plc Preliminary Announcement of Final Results for the year ending 28 February 2007 Financial Highlights -0- *T 2007 2006 Capital Values: Net assets (£000) 6,997 4,303 Net asset value per share 95.76p 95.33p Share price (bid) 80p 90p Discount 16.5% 5.6% Earnings per share: 1.09p 0.41p Total expense ratio 2.08% 2.12% Dividends (per share) Interim paid - 0.33p Final proposed 1.0p - *T Chairman's Statement Funding The 2005/6 share offer for subscription closed on 5 April 2006 with gross funds raised of around £2.8 million from 419 investors. The costs of the launch were set at 5% of the gross funds raised and the net proceeds retained by the company were £2.65 million, with an initial asset value per share of 95p. Including the £4.29 million of net funds raised in 2004/5, the Company has raised a total of £6.94 million to invest. Results Earnings per share for the year were 1.09p (based on the weighted average number of shares in issue during the year). The net asset value per share at 28 February 2007 was 95.76p, a 0.8% increase on the initial NAV. Investment Update In February 2006, we entered into a conditional agreement to invest an aggregate of £4 million in ten newly formed windfarm investment companies. Following the due diligence and tax clearance process, the company was unable to agree satisfactory terms with the operator. We are at an advanced stage in negotiations on a number of investments in renewable energy companies with a combined capacity to produce 4.5 MW of electricity fuelled by gasifying recycled wood. Subject to completion of legals and tax clearance from HMRC that the proposed investments would be qualifying investments under the VCT rules, we expect to make a further announcement shortly. Dividend A final dividend of 1 pence per share is proposed in respect of the year ended 28 February 2007. Subject to shareholder approval at the AGM, the dividend will be paid on 28 June 2007 to shareholders on the share register on 1 June 2007. Shareholder Communication The Company's daily share price can be found on various financial websites under the EPIC code 'KIV' or on our own dedicated website at www.keydataincomevct.co.uk Stephen Oxenbridge Chairman 11 May 2007 Consolidated Income Statement for the year ended 28 February 2007 (unaudited) -0- *T Revenue Capital Total £000 £000 £000 Income 240 240 -------- ---------- -------- 240 - 240 Management fees - - - Other expenses (145) (145) -------- ---------- -------- (145) - (145) -------- -------- -------- Profit before taxation 95 - 95 Taxation (18) - (18) -------- -------- -------- Profit after taxation 77 77 -------- ---------- -------- Earnings per share (Note 2) 1.09p - 1.09p - basic and fully diluted *T Consolidated Income Statement for the period ended 28 February 2006 (audited) -0- *T Revenue Capital Total £000 £000 £000 Income 109 109 -------- ---------- -------- 109 - 109 Management fees - - - Other expenses (91) (91) -------- ---------- -------- (91) - (91) -------- -------- -------- Profit before taxation 18 - 18 Taxation (3) - (3) -------- -------- -------- Profit after taxation 15 15 -------- ---------- -------- Earnings per share (Note 2) 0.41p - 0.41p - basic and fully diluted *T -0- *T The total column of these statements are the income statements of the Group. All revenue and capital items in the above statements derive from continuing operations. *T Balance sheet as at 28 February 2007 (unaudited) -0- *T Group and Company 2007 2006 £000 £000 Fixed assets Investments ---------- ---------- Current assets Other receivables 68 25 Cash and cash equivalents 6,992 4,301 ------- -------- 7,060 4,326 Current liabilities (63) (23) ------- ------- Net assets 6,997 4,303 ------- ------- Equity attributable to equity holders Called up share capital 73 45 Share premium 6,847 4,243 Capital reserve - realised - - Capital reserve - unrealised - - Revenue reserve 77 15 -------- -------- Total equity 6,997 4,303 -------- ------- Net asset value per share (Note 3) 95.76p 95.33p *T Cash flow statement for the year ended 28 February 2007 (unaudited) -0- *T Group and Company 2007 2006 £000 £000 Profit before tax 95 18 Increase in receivables (43) (25) Increase in payables 22 20 ----- ----- Net cash from operating activities 74 13 Dividends paid (15) - Cash flow from financing activities: Equity shares issued 2,632 4,288 ------- ------- Net increase in cash and cash equivalents 2,691 4,301 Opening cash and cash equivalents 4,301 - --------- -------- Closing cash and cash equivalents 6,992 4,301 --------- -------- *T Statement of changes in equity for the year ended 28 February 2007 (unaudited) -0- *T Group and Company 2007 Share Share Revenue Total CapitalPremium Reserve £000 £000 £000 £000 Balance at beginning of year 45 4,243 15 4,303 Changes in equity: Profit for the year and total recognised income and expense for the year - - 77 77 Dividends paid - - (15) (15) Issue of ordinary shares 28 2,604 2,632 ------ ------ ----------------- Balance at end of year 73 6,847 77 6,997 ------ ------ -------- -------- *T Statement of changes in equity for the year ended 28 February 2006 (audited) -0- *T Group and Company 2006 Share Share Revenue Total CapitalPremium Reserve £000 £000 £000 £000 Balance at beginning of year Changes in equity: - - - - Profit for the year and total recognised income and expense for the year - - 15 15 Issue of ordinary shares 45 4,243 - 4,288 Issue of redeemable preference shares 50 - - 50 Redemption of redeemable preference shares (50) - - (50) ------ ------- ------ ------- Balance at end of year 45 4,243 15 4,303 ------ ------ -------- -------- *T Notes to the preliminary announcement -0- *T 1 The financial information above has been prepared in accordance with International Financial Reporting Standards (IFRSs). The financial information set out above does not constitute the Group's statutory accounts for the year ended 28 February 2007. The full statutory annual accounts will be delivered to shareholders in May 2007 and delivered to the Registrar of Companies following the Company's AGM. Copies may in due course be obtained during normal business hours from Keydata Investment Services Limited, One Angel Court, London EC2R 7HJ. Statutory accounts for the year ended 28 February 2006 have been delivered to the Registrar of Companies and contained an unqualified audit report. The Annual general meeting of the Company will be held at the Company's registered office at 19 Cavendish Square, London W1A 2AW on 20 June 2007 at 11.00am 2 Earnings per ordinary share is based on a profit after tax of £77,000 (2006 - £15,000) and on 7,067,430 (2006 - 3,567,001) ordinary shares, being the weighted average number of ordinary shares in issue during the year. 3 The net asset value per ordinary share is based on net assets at the year end and on 7,306,320 (2006 - 4,513,628) ordinary shares, being the number of ordinary shares in issue at year end. *T 11 May 2007 For further information please contact: Craig McNeil Company Secretary Keydata Income VCT 1 plc 0141 572 2300

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